Process for Utilizing Web Data In Making Lending Decisions

Abstract

The disclosure relates to a process for utilizing web data, primarily obtained from social media websites in lending decisions business loan. Using the process, a lender can utilize publicly available data regarding a loan applicant, and evaluate that data in conjunction with other information to make lending decisions. The disclosure is directed toward loan transactions for small businesses.

We claim: 
     
         1 . A process for utilizing web data about a loan applicant in making lending decisions, comprising:
 receiving loan application information from a loan applicant;   obtaining web data from one or more websites;   verifying that the web data obtained relates to the particular loan applicant;   evaluating the web data to determine various criteria; and   making lending decisions based on that criteria.   
     
     
         2 . The process of  claim 1 , wherein the web data is aggregated before determining the various criteria. 
     
     
         3 . The process of  claim 1 , wherein the web data includes online customer reviews. 
     
     
         4 . The process of  claim 1 , wherein after the web data is evaluated, it is filtered to remove outliers.